Torunlar Gayrimenkul Yatirim Ortakligi A.S. completed its merger with subsidiary TRN Alisveris Merkezleri Yatirim ve Yönetim AS after the deal was approved by the Capital Markets Board of Turkey.

Following the takeover of the subsidiary's assets and liabilities, Torunlar increased its paid-up capital from 500.0 million Turkish lira by 4,283 lira, the company said in a release.

As of Jan. 12, US$1 was equivalent to 3.77 Turkish lira.